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OnTheMarket acquires remaining 80% of Glanty
StockMarketWire.com
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Property portal OnTheMarket said it had exercised a call option to acquire the 80% of property technology Glanty it didn't already own.
OnTheMarket would acquire the remaining shares for an initial £1.5 million and also would be required to repay shareholder loans of about £1.4 million.
The acquisition sum also included an earn-out of up to £12 million, contingent on Glanty meeting certain revenue and earnings targets.
'Exercising this option with Glanty provides us with the building blocks to accelerate our development roadmap and roll-out new functionality, supporting our vision for further growth and innovation for the business,' chief executive Jason Tebb said.
At 9:17am: (LON:OTMP) Onthemarket Plc share price was 0p at 105p
Story provided by StockMarketWire.com
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